Art does more than brighten a living space.
The art market has become one of the hottest new investment crazes in recent years. An Art Basel annual report estimates global art market sales
reached over 68 billion in 2019. Painting and sculpture collectors frequently buy pieces with an eye towards adding to their investment portfolio. Like stocks and bonds, art can increase in value. If an up-and-coming artist goes on to a successful career, the cash value of their work will skyrocket.
ART Rules... the art market follows rules of its own.
One major perk of art as an asset is that its value doesn’t rise or decline with the stock market. Even if your stocks aren’t performing well, your art investment may be doing great – good news for the savvy investor who wants to diversify a portfolio and minimise risk. And ideally art will continue appreciating in value over time.
Firstly, decide how much money you’re happy spending.
Secondly, consider the aesthetic pleasure first and the financial benefits second. Browse sites like Artnet and online auction houses like Sotheby’s to get a sense of how the market works, but the easiest route is to talk to a reputable gallery who will help guide you on your art journey.
Since this is the information age, plenty of high-end artwork sells online and collectors are becoming increasingly comfortable using this platform to buy art. But before you buy over the Internet, make sure you’re purchasing from a legitimate gallery, dealer, or investment firm.
Art is non-liquid
Art and real estate go hand in hand and can take much longer to sell but are good solid investments... plus, you get so much more enjoyment from them.
Here are some signs why the reward might outweigh the risk.
• You simply enjoy art.
• It can be an extension of your personality and taste.
• It brings ambience, character and points of interest into your home.
• It lasts for generations and can be passed through the family for a lifetime of enjoyment.
• Starting your investment journey can be daunting at first but talk to reputable gallery who are there to help guide you so you feel well equipped for an incredibly rewarding journey.